LiveChat Software posted PLN 104.6 million of revenues and a net profit of PLN 59.3 million in the first half of this year
Consolidated revenues in the amount of PLN 104.6 million and PLN 59.3 million of net profit represent the LiveChat Software group performance in the first half of the financial year 2021/22 (ending on March 31). These results translate into growth of 23.4% and 27.7%, respectively, compared to the results recorded a year ago.
'The clients and end-users of our products are our absolute priority. During the last six months, LiveChat, ChatBot, and HelpDesk facilitated more than 441.5 million different interactions. This number is an annual growth of 60%, which shows the growing importance of online communication. We will do our best to continue our mission to help people and companies communicate better and fully express themselves',said CEO Mariusz Ciepły.
Companies, universities, and institutions from around 150 countries use LiveChat Software solutions. At the end of September 2021, LiveChat paying customers numbered 33,909 (currently, they exceed 34,000), and ChatBot - 2,188.
At the same time, ARPU (calculated from MRR - Monthly Recurring Revenue) is also growing. At the end of the first half of the 2021/22 financial year, the LiveChat ARPU was USD 121, increasing by USD 2 during the last three months, and higher by over 9% compared to the previous year. The ChatBot ARPU increased by over 25% annually, to around USD 97.
The increase in this indicator is the result of an adjustment in the LiveChat pricing model (implemented at the beginning of 2020) and the introduction of new subscription plans for ChatBot.
The Company generates almost all of its revenues in US dollars. As a result, immediately after the end of the quarter, preliminary data are published in USD. According to these reports, in the 1st and 2nd quarters of this financial year, LiveChat recorded USD 27.4 million in revenues, i.e., 25.8% more than in the previous year.
In the second quarter, a very high level of annual payments was recorded, mainly influenced by the segment containing the largest clients. These payments fully affect the result reported during the quarter (at the same time, a reserve is created for the maintenance of the infrastructure needed to provide the service). However, these revenues are spread over 12 months for the purposes of the MRR calculation.
At the end of September 2021, the MRR value was USD 4.39 million, a 4.3% increase compared to the previous quarter and a 21.6% increase compared with last year. The fact that this indicator has grown in each subsequent single month, for both last year and the year prior to that, demonstrates the stability of the Company's growth.
In the first half of the financial year, operating profit increased by 28.5% to 63.8 million PLN and EBITDA by 38.0% to 69.6 million PLN. The Company generates cash effectively. Cash flow from operating activities amounted to PLN 76.9 million; as a result, Live Chat Software had cash reserves of PLN 55.6 mn at the end of the half-year.
Despite the expansion of the team and the high pressure on salary levels in the technology sector, the Company maintains very high margins. In the first half of the financial year, the gross margin on sales was 87.5%, the EBITDA margin was 64.1%, and the net margin was 56.7%.
As of September, Filip Jaskolski joined the group of CXO's as Chief Innovation Officer. Filip has been working for Live Chat for over seven years, during which time he was responsible for creating a new developers' platform.
LiveChat Software SA published this content on 24 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 November 2021 16:59:09 UTC.